The Canadian Sustainability Standards Board (CSSB) has unveiled a pivotal new framework for sustainability reporting with the release of CSDS 1: General Requirements for Disclosure of Sustainability-related Financial Information and CSDS 2: Climate-related Disclosures. These inaugural Canadian Sustainability Disclosure Standards mark a transformative step in enhancing transparency and comparability in sustainability reporting across the nation. Key…

EFRAG is pleased to announce the delivery of its technical advice on the Voluntary Sustainability Reporting Standard for non-listed micro-, small-, and medium-sized undertakings (VSME), following the express request of the European Commission (EC) confirmed on December 12, 2024. The VSME is a key step toward simplifying sustainability reporting for SMEs and supporting their access to…

In response to the escalating global pollution crisis, the Global Reporting Initiative (GRI) has established a Pollution Working Group to develop new Topic Standard(s) on pollution. This initiative brings together 17 multi-stakeholder experts from around the world, who will focus on improving and expanding disclosures related to pollution across the GRI Standards. The working group’s primary…

The European Parliament has approved a one-year delay for the EU deforestation law, which aims to ban products sourced from deforested or degraded land. Initially set to take effect in December 2024, large companies now have until December 30, 2025, to comply, while small and micro enterprises will have until June 2026. Why the Delay? The…

The European Council announced today the adoption of groundbreaking regulations to significantly reduce packaging waste across the EU. Key measures include a requirement for all packaging placed on the market to be recyclable by 2030. The decision marks the final legislative step following the European Parliament's approval in April 2024. Initially proposed by the European Commission…

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has released a new set of Questions and Answers (Q&As) to clarify the practical application of its Guidelines on funds' names using ESG or sustainability-related terms. The Q&As aim to promote consistency and a shared understanding among market participants and regulators on…

The European Commission will not ease its climate policies on car CO2 emissions despite mounting pressure from automakers, national governments, and the European People's Party (EPP), the bloc's largest political group. EU climate policy chief Wopke Hoekstra confirmed the stance in an interview with Reuters on Thursday. "No. The answer is no," Hoekstra said when asked…

The U.S. Environmental Protection Agency (EPA) has announced a settlement with Central Valley Meat Company Inc., resolving claims of violations under the Clean Air Act (CAA) and the Emergency Planning and Community Right-to-Know Act (EPCRA). The Hanford-based meat processing company will pay $210,332 in civil penalties and implement substantial safety measures to align with federal…

The 7th Annual Energy Trading Enforcement Forum (ETEF) brought together over 75 representatives from the EU Agency for the Cooperation of Energy Regulators (ACER), the European Securities and Markets Authority (ESMA), energy National Regulatory Authorities (NRAs), and financial National Conduct Authorities (NCAs) to strengthen cooperation and alignment in the oversight of energy and financial markets. The…

Preparations are underway for the United Nations Fourth International Conference on Financing for Development (FfD4), set to take place in June 2025 in Seville, Spain. A recently published Elements Paper will guide these negotiations, emphasizing the critical role of sustainability reporting in aligning finance with the Sustainable Development Goals (SDGs). The paper recommends that nations adopt…

Meta Platforms Inc. has announced a new agreement to purchase green energy credits from four large-scale solar energy projects in the United States, marking another significant step toward meeting its clean electricity objectives. As the demand for power from its data centers continues to grow, the company has increasingly focused on securing sustainable energy sources. The…